Poll:More Disapprove of Obama’s Handling of Economy

The hopeful mood that accompanied the start of President Obama’s term has given way to deepening concern about the nation’s economic troubles, according to a new NBC News/Wall Street Journal poll. In the survey, a 52 percent majority of Americans described the nation as headed “off on the wrong track,” compared to 36 percent who said the U.S. is “headed in the right direction.” Though Obama’s overall approval rating remained unchanged at 51 percent, assessments of Obama’s handling of the econo

Anything less than full disclosure is unacceptable

“Last week a new bill was introduced in the Senate to audit the Federal Reserve. Some backers of my bill HR1207 and the existing Senate companion bill S.604 were a little miffed at this, but depending on how you think about it, this new legislation poses no great threat to our efforts. With the economy in shambles, people are looking for answers — not just because of lost savings on Wall Street, but because of lost houses on Main Street. Because of the many problems we face, the Federal Reserve

Dandelion Salad’s Tweets

Dandelion SaladBy Mike Whitney October 27, 2009 “Information Clearing House“October 29, marks the 80th anniversary of the Stock Market Crash of 1929, the event which most historians point to as the beginning of the Great Depression. On Black Tuesday, traders dumped 16 million shares in one day sending the markets into freefall. In the months that followed, stocks rallied–sometimes for long periods at a time–but the underlying economy continued to deteriorate as consumers curtailed spending and c

Dandelion Salad’s Tweets

Dandelion SaladRussiaToday October 26, 2009Although Wall Street seems to be optimistic about economic recovery in the near future, economists like George Soros and Gerald Celente warn that things could only get worse in the future. Celente calls the U.S. economic system ‘perverted.’ RT’s Dina Gusovsky gets more details from Celente. more about “Celente: Wall Street has hijacked Was…“, posted with vodpodseeRep. Barney Frank VS Ralph Nader on the Economy Rhetoric and Reality by Ralph Nader Barney

5 myths about Wall Street pay days

The financial crisis is now more than a year old, and Americans are still angry -- angry that the economy tanked, angry that they're out of work. But mostly, people seem outraged by Wall Street bonuses. Seeking to assuage that ire, the Obama administration's compensation czar, Kenneth Feinberg, last week announced plans to cut the pay of top executives at the seven companies receiving federal support through the Troubled Assets Relief Program. He has suggested that the cuts, which slashed pay

Wall Street economists expect producer prices were flat in August as energy costs fell

Ahead of the Bell: Producer Price Index WASHINGTON ? Wholesale prices were probably flat last month as energy prices declined, further evidence that inflation remains in check even as the economy shows signs of life. The Labor Department’s report is expected to show the Producer Price index was unchanged in September, according to economists surveyed by Thomson [...]

Nikkei set to rise after strong U.S. tech results

TOKYO, Oct 20 - Japan's Nikkei stock average is set to rise on Tuesday, led by tech shares such as Advantest Corp after Wall Street hit a 12-month high on a wave of solid earnings that reconfirmed the economy is healing. Japan Airlines Corp will l ...

Move Along

Yves Smith has a very good post on how hard much of the mainstream media has fallen for the “everything is OK, go on with your lives” theme. She cites the Pew Research Center to show that media coverage of the financial crisis and recession has focused primarily on political battles – stimulus, bailouts, etc. – rather than on problems in the real economy. What’s more, economic coverage in general has fallen off since the stock market rebound earlier this year and the Obama administration’s “all

The WonkLine: October 16, 2009

Welcome to The WonkLine , a daily 10 a.m. roundup of the latest news about health care, the economy, national security, immigration and climate policy. This is what we’re reading. Tell us what you found in the comments section below, and subscribe to the RSS feed . Also, you can now follow The Wonk Room on Twitter . Economy The Obama administration “scored its first financial regulation reform victory in months” yesterday, as a bill spearheaded by Rep. Barney Frank (D-

Tony Blankley: Washington Is Nuts

By Tony Blankley Want to hear a real laugher? Despite the current disharmony in politics, there’s one policy on which all of Washington agrees. Republicans and Democrats, House and Senate, president and Congress all agree that after last fall’s financial crisis, the federal government has to regulate the financial industry more closely to protect our economy from risk of systemic financial collapse. Here’s the joke. As boom- and bust-prone as high finance always has been and remains, the gr

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